{"id":6937,"date":"2015-09-23T14:14:23","date_gmt":"2015-09-23T14:14:23","guid":{"rendered":"\/?p=6937"},"modified":"2015-09-23T14:39:24","modified_gmt":"2015-09-23T14:39:24","slug":"kimberly-parry-organics-corp-otcmktskpoc-files-annual-report","status":"publish","type":"post","link":"\/articles\/kimberly-parry-organics-corp-otcmktskpoc-files-annual-report\/","title":{"rendered":"Kimberly Parry Organics Corp (OTCMKTS:KPOC) Files Annual Report"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91417\/kpoc_chart.png\" border=\"0\" width=\"450\" \/>The wait is finally over &ndash; Kimberly Parry Organics Corp (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a>) finally put up its overdue annual report. The dismal figures in it did not stop the price from climbing 1% to stop at $0.79 per share.<\/p>\n<p>The annual filing came three weeks past its deadline but at least it&#8217;s finally here for all to peruse. Sadly, the information contained in it is far from optimistic. Perhaps it&#8217;s best to start with the balance sheet and go from there. Here is what <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> had on its books as of May 31, 2015:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>ZERO in cash<\/li>\n<li>$1.4 million in current liabilities<\/li>\n<li>$264 thousand in annual revenues<\/li>\n<li>$1.4 million in annual net loss<\/li>\n<\/ul>\n<p>The company is still cashless. Annual net loss has increased considerably against 2014, despite shrinking general and administrative expenses. This is largely due to the generous salaries <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> hands out to its management and employees. For the year ended May 2015, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> paid out $120,000 in &ldquo;management salaries&rdquo; and $249,120 in &ldquo;payroll&rdquo; &#8211; a combined sum that exceeds the company&#8217;s annual revenue by a six-digit figure.<\/p>\n<p>Additionally, its last fiscal quarter, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> issued 10.82 million restricted common shares to clear a note payable with its attached interest, amounting in total to $10,820. In a classical case of sloppy pink sheet reporting, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> recorded those shares as issued at $0.05 per share, instead of the real price of $0.001 per share, assuming 10.82 million shares were indeed issued to clear $10,820 in debt.<\/p>\n<p>The complete lack of cash on hand, the generous remuneration policies and the share issuance practices of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=KPOC\">KPOC<\/a> are probably enough to wave a red flag for the more careful investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The wait is finally over &ndash; Kimberly Parry Organics Corp (OTCMKTS:KPOC) finally put up its overdue annual report. The dismal figures in it did not stop the price from climbing 1% to stop at&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1801],"class_list":["post-6937","post","type-post","status-publish","format-standard","hentry","category-news","tag-kpoc"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6937"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6937\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}